Business
ADH Secures Assets of Former
ADH Secures Assets of Former.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n RNS Number : 5536Q Asia Digital Holdings PLC 05 August 2010 \n \n\n \n \n \n\n\n\n\nPress Release\n\n\n 5 August 2010\n\n\n\n\n \n \nAsia Digital Holdings plc\n(\"Asia Digital\" or \"the Group\")\n \nADH secures assets of its former subsidiary Deal Group Media (UK) Ltd\nAsia Digital Holdings plc (AIM: ADH.L), the independent digital marketing group, today announces that following the recent administration of its former subsidiary Deal Group Media (UK) (\"DGM UK\") Ltd, it has secured assets from DGM UK's administrators which are essential for the running of its performance advertising business. ADH continues to operate its core operation, the DGM business, in Australia, New Zealand and Asia, focusing on key online direct marketing strategies.\n\nADH, the original owners of DGM UK, sold a controlling stake to a management buyout team in 2007 and since that time the UK operation has provided technology services to Group.\n \nADH had a residual holding of 49% in DGM UK making it an associated undertaking however the value of this holding was written off in the 2008 accounts due to its financial performance. ADH has no exposure to the outstanding debts of DGM UK. \n\nAdrian Moss, founder of Asia Digital, said: \"We are pleased to confirm that, following the demise of our former subsidiary, DGM UK, we have secured the assets enabling interruption-free supply of the key digital marketing technology to our operations.\"\n \n- ends -\n \nFor further information, please contact:\n\n\n\n\nAsia Digital Holdings plc\n\n\n \n\n\n\n\nAdrian Moss, Chief Executive\n\n\nTel: 00 65 6508 9202\n\n\n\n\nwww.adhplc.asia\n\n\n \n\n\n\n\n \n\n\n\n\nAstaire Securities Plc\n\n\n\n\n\n\n\nGavin Burnell / Toby Gibbs\n\n\nTel: +44 (0) 20 7492 4750\n\n\n\n\nKatie Shelton (Corporate Broking)\n\n\nwww.astairesecurities.co.uk\n\n\n\n\n \n\n\n\n\nAbchurch Communications\n\n\n\n\n\n\n\nHeather Salmond / Claire Dickinson\n\n\nTel: +44 (0) 20 7398 7718\n\n\n\n\[email protected] \n\n\nwww.abchurch-gr...